Dogecoin is an online currency that was created in 2013. It has become trendy lately due to its cheap and fast transactions. However, there are only a few places where you can buy it – so we’ve put together this guide for people thinking about how to buy dogecoin uk.
Who Can Buy Dogecoin in the UK?
- Anyone who can use PayPal
Anyone who has a PayPal account can link it to their debit or credit card and start buying coins immediately, making this exchange an ideal place for beginners to purchase cryptocurrencies. You will be able to see the balance of your wallet right away after you have created an account on Paybis.com.
Once you are ready with payment information, just go into your “My Account” page where all the essential details are located – including how much money is available for spending in USD, EUR, etc., as well as what currencies you own and some basic statistics about them; how many transactions did take place that day (and even hour) and more.
- People who have a debit or credit card
If you want to buy Dogecoin using your bank account, some platforms support both PayPal and credit/debit cards. It also offers pretty low fees when compared with other exchanges. However, the thing to notice here is that since the transactions are done via a third party (the business), they require more personal information to allow users’ accounts to remain secure at all times.
- People who have a Skrill account
Skrill is an online wallet that supports debit and credit cards as well. If you already use this platform to make purchases or pay bills, it’s easy for you to go ahead and buy some Dogecoin using the same e-wallet. The great thing about buying your coins on Bittylicious with this alternative payment method is that there are no fees at all – apart from those imposed by PayPal itself (about three percent). You can get started in just minutes if you know what all the necessary information needed for purchase looks like.
- People who have Bitcoin
If you already own Bitcoin, there’s no need to go through all the trouble of repurchasing it. You can simply transfer your BTC from one wallet to another and use it as a form of payment for Dogecoin – just like any other cryptocurrency available on Bittylicious. The only thing to consider here is that the processing time might take up to an hour. In addition, there will be fees associated with transferring these coins (you should check this information carefully before going ahead).
Furthermore, not every seller supports this way of payment – so make sure you are dealing with somebody willing or able to accept cryptocurrencies before initiating any transaction. If they don’t mention anything about alternative methods that are supported at their end when creating listings, chances are they will not be able to facilitate it.
- People who have Ethereum
It’s easy to buy Dogecoin with this currency, too. However, the only caveat is that you won’t be able to use your Ether tokens on Bittylicious – but instead will have an option of using either Litecoins or Bitcoins as a payment method. It might take up to 15 minutes for transactions to process, and there are transfer fees attached (you should compare these rates between different platforms before deciding which one suits you best).
What Can You Do With It?
Once you have your coins, people buy several things with them and different places where you can spend them.
- Buy games or other items from the marketplace section on Dogemarket.
- Donate money directly to those who need help via Reddit’s Tipping Tuesday initiative (which has been quite successful so far).
- bitcoinera.cloud platform provides a dashboard for cryptocurrency traders to trade and monitor their investments. It analyzes the current market sentiment and tracks fluctuation in price of these currencies
Of course, the possibilities go beyond these simple examples – but this is a good starting point if none of the options above appealed to you immediately and now want something more specific in return for your investment into cryptocurrency space. As always, make sure that any decision based only on limited information doesn’t turn out to be a costly mistake.
Some final notes
Always check the seller’s rating and history before going ahead with any transactions – it is always better to avoid those involved in scams related to Dogecoin or other cryptocurrencies.